Enron Scandal - 1844 Words

THE ENRON SCANDAL FACTS OF THE CASE Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Enron s predecessor was the Northern Natural Gas Company, which was formed during 1932, in Omaha, Nebraska. It was reorganized during 1979 as the main subsidiary of a holding company, Inter-North which was a diversified energy and energy related products company. During 1985, it bought the smaller and less diversified Houston Natural Gas company. Employed approximately 20,000 staff One of the world s major electricity, natural gas, communications, and pulp and paper companies. Revenues of nearly $40.1 billion. Enron was almost universally considered one of the country s most innovative†¦show more content†¦PROBLEMS OF THE CASE 1. The need for significant reforms in accounting and corporate governance in the United States, as well as for a close look at the ethical quality of the culture of business generally and of business corporations in the United States. 2. A private company like Enron currently hires and pays its own auditors. This again is a conflict of interest built into our legal system because the auditor has an incentive not to issue an unfavorable report on the company that is paying him or her. ALTERNATIVE COURSES OF ACTIONS 1. Current laws and SEC regulations must not allow firms like Arthur Andersen to provide consulting services to a company and then turn around and provide the audited report about the financial results of these consulting activities. 2. And if the first ACA is not applicable, the company should have better financial disclosure mechanisms. Expense claims should be processed properly with an allocated time to properly check the finances and expenses. This is to correctly audit and make a balance sheet to show where the money was used and to check the profits of the company. And not for the staff to make poor performances. And also separate auditing from consulting functions. THE BEST ALTERNATIVE COURSES OF ACTION The best solution for this Scandal was the ACA 2. The company should have better financial disclosure mechanisms. Expense claims should be processed properly with an allocated time to properlyShow MoreRelatedThe Enron Scandal854 Words   |  4 PagesThe Enron Scandal Background Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,000 staff and was one of the world s leading electricity, natural gas, communications, and pulp and paper companies, with claimed revenues of nearly $101 billion in 2000.[1] Fortune named Enron America s Most Innovative Company for six consecutive years. At the end of 2001, it was revealedRead MoreEnron Scandal2929 Words   |  12 PagesLaw and Management Book Review Enron, Titanic and The Perfect Storm - Nancy B. Rapoport Student No: 0834172 Word Count: 1500 1 CILM Book Review 0834172 Two years after Enron filed for bankruptcy in 2001, Nancy b. Rapoport wrote this essay expressing her unique perspective on the real cause of Enron’s demise. This essay catches the reader’s attention instantly, because unlike abundant other articles written on the biggest corporate scandal in American history, the author here rejectsRead MoreEnron Scandal9449 Words   |  38 PagesThe Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure.[1] Enron was formed in 1985 by Kenneth Lay after merging Houston NaturalRead MoreEnron And The Enron Scandal847 Words   |  4 PagesThe Enron scandal, discovered in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based mostly in Houston, Texas, and also the dissolution of Arthur Andersen, that was one amongst the 5 largest audit and accounting partnerships within the world. Additionally, to being the most important bankruptcy reorganization in American history at that point, Enron without doubt is the biggest audit failure. it s ever the foremost notable company within theRead MoreThe Enron Scandal Of A Company1193 Words   |  5 Pageswell. What if this company falsifies their records and in a couple of days the company and its stock value go from $90 per share to just a penny per share. You lose your money just because a company cheated and stole your money. This is what the Enron scandal did to thousands of people. It could have been stopped if more forensic accountants in the world are checking on the companies. This way they don’t lie about their stock value. Forensic accountants are in charge of checking business financial recordsRead MoreEnron And The Enron Scandal1387 Words   |  6 PagesEnron, The Shadiest Guys In the Room When you ask young people about the Enron scandal today, most of them have not even heard of it. The fact of the matter is, it is very relevant to young professionals today. Enron is the most recent story of classic Wall Street greed and fraud. However it is still argued today by different stakeholders who are is responsible. This essay will take the viewpoint from multiple stakeholders to use the Enron Scandal as an example to further explain American corporateRead MoreEnron Scandal1477 Words   |  6 Pagesï » ¿Current issue: Scandals in auditing Enron Scandal 1. Introduction Accounting scandals are political or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. These days, not too often, these scandals are splashed as headlines across media. Why? Because there are complex groups of stakeholders who might be seriously affected by the scandals. Enron scam was the most remarkable scandal in 20 centuries by their institutionalizedRead MoreThe Enron Corporation Scandal 1791 Words   |  7 PagesIDENTIFY THE ACCOUNTING PRACTICES THAT WERE ASSOCIATED WITH THE ACCOUNTING SCANDAL. The Enron Corporation failures made world headlines for many reasons ranging from greed from its executives, the alleged malpractice and criminal behaviours, and its quick and disastrous collapse. The most critical factor in Enron’s melt down was the use of creative and manipulative accounting practices to distort reported proï ¬ tability and indebtedness that befell the corporation (A. Holt and T. Eccles, 2002) TheRead MoreEnron Scandal Of Enron Corporation Essay1145 Words   |  5 PagesIntroduction Enron scandal which aroused in 2001 was one of the most famous events in the area of fraud audit. As the auditor company of Enron, Arthur Andersen failed to prepare true and fair auditing reports. They both suffered lethal loss at that time. The following paragraphs will discuss this fraud event, including the organization history, the organization’s event, the fraud issue in the event, the consequence of the main stakeholders, auditors in the event and their roles, and the current situationRead MoreThe Enron Scandal Essay619 Words   |  3 PagesThe Enron Scandal In a front-page article with no less than four by-lines (7/03, Enron Triggers a Slew of Proposed Fixes But What Will Stick? by Steve Liesman et al.), The Wall Street Journal reports, As more than 10 congressional committees pursue inquiries, 32 Enron-related bills have been introduced to address ills ranging from auditor conflicts of interest to the scams of an unregulated derivatives market. The Securities and Exchange Commission pledges to reform accounting rules, get

Essay on Personal Statement for Masters Degree in Social...

As a student who began her college career without specific objectives, I never thought I would be writing a personal statement for an application to receive a Master’s Degree in the social work profession. However, I feel now that there is no other future for me than that of offering my education and personal commitment to vulnerable individuals in order to stabilize their lives. After careful consideration of all areas of social work, I have found that my main area of interest is in providing resources and encouragement for individuals with disabilities to gain the freedom to live independent lifestyles without discrimination. My personal goal in this profession is to make every possible effort in assisting these individuals with†¦show more content†¦My situation only temporarily hindered my ability to perform regular tasks outside the home. Before long, I was able to take my braces off my back and neck, and I eventually learned to walk without assistance. The s ame cannot be said for many people who currently have disabilities, as they will not be able to rid their hindrances. It is understandable that some people may not be able to grasp the idea of being confined to a wheelchair or a walker, and most people that are admitted into a hospital do not expect to hear that they will be required to use one of these medical devices regularly in order to be mobile. I know without a doubt in my mind that I am more than capable of helping people with disabilities gain confidence and the necessary skills to help them reach satisfaction and success. Countless hours spent reading articles regarding research on individuals with spinal cord injuries and what effects these injuries have had on their mental health has helped me realize that it is most important for me to work in a hospital or V.A. medical center in order to help these individuals overcome the obstacles in their lives. When veterans return from war with physical and/or mental disabilities, their families are also deeply and undeniably affected, and it is very important to understand the complications that correlateShow MoreRelatedStudy Counseling And Accounting Disciplines989 Words   |  4 Pages Areas of study: Counseling and Accounting With my IDS degree I chose to study counseling and accounting disciplines. I really enjoy listening to people and looking for ways to help them. I would like to create a new kind of counseling system that is very different from anything there is today. This is where my account background will come into play. I will need to start my own business to fulfill my dream. In order to be successful I will need my accounting knowledge to keep my business runningRead MorePersonal Statement : The Financial Manager855 Words   |  4 PagesPersonal Statement It was when I received a task as the â€Å"financial manager† of my siblings at the age of ten that I became interested in the power of money. As the eldest child of the family, I was put in charge of managing my siblings’ monthly allowance, giving them the amount they need every week and save the rest for later. This act of my parents does not only taught me money managing, but also brought me enthusiasm towards monetary issues, making accounting my greatest passion since then. OverRead MoreBecoming A Social Worker : Rutgers University1593 Words   |  7 PagesFor as long as I can remember I have always wanted to pursue a career in social work. Helping others is something I have always been passionate about and I hope to be able to make a difference in the lives of those around me. Throughout my life, I have always been the person my friends would go to when something was wrong and they needed to talk. Growing up, I also experienced close family members struggle with addiction and mental health problems. I have seen how damaging these experiences can beRead MoreA Career in Medical Psychology1223 Words   |  5 Pagesundergraduate degree in psychology or in a related field such as sociology, education, anthropology or social work. Then, you will want to decide if you want to earn a doctorate-level degree. The reason you should make this decision at this point is because many psychology programs do not offer a terminal masters degree in psychology. In such cases, you will enroll in a graduate program after earning your bachelors degree and then spend 4 to 7 years working on your doctorate degree. In order toRead MoreDeveloping A Vision, Mission And Values Essay1322 Words   |  6 Pagesâ€Å"Your purpose in life is to find your purpose and give your whole heart and soul to it† said Buddha. Defining one’s values, visions and mission statement for themselves is exactly what Buddha stated â€Å"your purpose in life†. Without developing a mission, vision and values to assist in developing a strategy, an individual cannot identify, distinguish or explain themselves to others. The importance of developing a vision, mission and values is to help one become the most successful they can be alongRead MoreEssay Personal Trainer1261 Words   |  6 PagesPersonal Trainer Personal trainers are responsible for training individuals and developing a healthy workout regimen for all their clients. They often work with different muscle groups and combine this knowledge with cardiovascular training to provide their clients with the best exercise program possible. They may demonstrate various exercises and improve their clients technique. They work either in a clients home or a gym. Personal trainers conduct fitness consultations and assessments.Read MoreI Am Born With Multiple Birth Defects, Including A Cleft Palate1670 Words   |  7 Pagesanesthesia. The idea of putting someone to sleep to make surgery tolerable and painless interests me. Education Certified Registered Nurse Anesthetist is a two year graduate program. To be accepted in to this program you must receive a bachelor’s degree in nursing, be certified as a registered nurse, and complete a year of clinical experience in the intensive care unit. The school that I want to apply to is the University of South Florida. University of South Florida. I want to apply to UniversityRead MoreFactors Affecting Bpe Students to Shift Majors1103 Words   |  5 Pageschildren for the world of work and helps them to develop their personal talents, discover who they are, and where they would best fit into society’s workforce as viewed by the Functionalist. They see three main function of education; role allocation, providing skills, and socialization. Education can be seen to provide pupils/ students with the curriculum and hidden curriculum; teaching skills that will prepare them physically, mentally and socially for the world of work in later life (Szarowicz,Read MoreAcademic and Professional Goals Essays932 Words   |  4 PagesUniversity the mission statement states: â€Å"Walden University provides a diverse community of career professionals with the opportunity to transform themselves as scholar-practitioners so that they can effect positive social change†. (Laureate, 2013) According to Walden’s University the vision statement states: â€Å"Walden University envisions a distinctively different 21st-century learning community where knowledge is judged worthy to the degree that it can be appliedRead MorePersonal Marketing Plan Essay914 Words   |  4 PagesA Personal Marketing Plan Even as a child I always marvel about how systematic the process of handling the financial aspect of a certain company works. I have seen some people from my family try to organize their books of accounts and I am amazed at how financial statements are well coordinated. Thus, when I pursue my college education I decided that I want to take up accounting and learn the systematic process of managing finances. I come from a line of family who are into the business world.

Contemporary Society Has Done Enough to Respond to the...

Criteria: What acts have actually been made to respond to the legacies of historical globalization? How have these effects been made in trying to respond to historical globalization? What has changed since then? What has not changed? Position: I disagree that contemporary society has done enough to respond to the legacies of historical globalization for many reasons. Reasons: Some of the reasons I think this statement is not true are, even thought society has improved since historical times, society still has many problems and is nowhere near being a perfect world and fixing every flaw. We see and hear about people around us getting hurt everyday from various issues that have not been solved, yet we have not made a serious effort in order†¦show more content†¦This just goes to show how much of a profiting company Toms really is, they make all that extra money and then just keep it for themselves when they could be helping so much more by donating it all to Africa instead of just a cheap pair of canvas shoes which doesn’t help very much in the first place. There are many diseases that are easily catchable and Toms do not provide enough protection. The Rwandan Genocide also is still an existing issue which killed one million people, mostly Tutis and some Hutu’s, continues to be one of the most tragic and memorable events in the contemporary society of Africa. Specifically for those who were involved. Lucie Niyigena, a 70 year old woman who managed to survive the genocide, is still forced to face her fear everyday living beside someone who could have potentially killed a member of her family. This is just one of the still existing hardships for those forced to live it. This problem has not been changed since historical times partly because modern society has chosen not to make the change. Also the Rwandan genocide is still a huge issue because there is always a possibility that it could happen again. Although the chances are very slim, the possibility is always there and will always be. Anything can happen in the world, it takes just one person to create change whether it is positive or negative, and others will always follow along. Some areas in Africa are still controlled by Hutu Militia from Rwanda which creates a hugeShow MoreRelatedWe Have NOT Done Enough to Respond to the Legacies of Historical Globalization879 Words   |  4 Pageshave learned so far it appears that contemporary society has responded to the legacies of historical globalization, yet it hasn’t done quite enough to satisfy the concerned and affected. I would have to disagree to this statement, there are still some problems I believe needing to be addressed. Reasoning I have chosen the position of disagree because although contemporary society has responded to legacies of historical globalization, I think we haven’t done enough yet. Although we have definitelyRead MoreLegacies of Historical Globalization956 Words   |  4 PagesContemporary society has done enough to respond to the legacies of historical globalization Criteria: What acts have actually been made to respond to the legacies of historical globalization? How have these effects been made in trying to respond to historical globalization? What has changed since then? What has not changed? Position: I disagree that contemporary society has done enough to respond to the legacies of historical globalization for many reasons. Reasons: Some of the reasons I think thisRead MoreHistorical Globalization Essay685 Words   |  3 PagesAssignment II Essay Historical Globalization In the period of historical globalization, a lot of horrible events had happen and many people have suffered, also lost what they had such as land, culture, languages, family, freedom, and dignity. Like the Rwanda incidents, Apartheid Law in South Africa and the incidents in Residential Schools in Canada. Although those things had happened, they still survive and right now is rebuilding and moving forward to not let it happen again with theRead MoreThe Future of Globalization5305 Words   |  22 Pagesâ€Å"The Future of Globalization† What exactly is globalisation? Before I talk about the future of globalization it is first of all important to understand what it truly means. From my research on the topic I feel that the following definition by the IMF is the most accurate. They describe globalization as the â€Å"growing economic interdependence of countries worldwide through the increasing volume and a variety of cross-border transactions in goods and services and of international capital flows and alsoRead MoreGlobalization and It Effects on Cultural Integration: the Case of the Czech Republic.27217 Words   |  109 PagesGLOBALIZATION AND IT EFFECTS ON CULTURAL INTEGRATION: THE CASE OF THE CZECH REPUBLIC. INTRODUCTION I. AN OVERVIEW. With the growing standards of the world and the existing concepts and complexities in political, economic and socio-cultural ideologies, man has always and continuously pondered over the aspects of his nature. Unity, equality, trade and commerce are at the forefront of mans complexities. With these thoughts in mind, man has moved through history trying to satisfy his desiresRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesM. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: Solidarity Remembered Janis Appier, Policing Women: The Sexual PoliticsRead MoreImportance Of Relationship Marketing32123 Words   |  129 Pages Customer Relationship Management And Importance Of Relationship Marketing In The Banking Sector This project report is being submitted as a part of the requirements of the MBA Program of Bangalore University. The project has been undertaken By: SHRIYA MEHROTRA Reg. No. 04VWCM 6117 With the guidance and support of Prof. Raja Sekhar Faculty: MBA [pic] ALLIANCE BUSINESS ACADEMY BANGALORE – 560 076 Batch: 2004-2006 Declaration I, Shriya Mehrotra, studentRead MoreContemporary Issues in Management Accounting211377 Words   |  846 PagesContemporary Issues in Management Accounting This page intentionally left blank Contemporary Issues in Management Accounting Edited by ALNOOR BHIMANI 1 Great Clarendon Street, Oxford ox2 6dp Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide in Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne MexicoRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 PagesISBN: 0−390−58539−4 Text: Effective Behavior in Organizations, Seventh Edition Cohen Harvard Business Review Finance Articles The Power of Management Capital Feigenbaum−Feigenbaum International Management, Sixth Edition Hodgetts−Luthans−Doh Contemporary Management, Fourth Edition Jones−George Driving Shareholder Value Morin−Jarrell Leadership, Fifth Edition Hughes−Ginnett−Curphy The Art of M A: Merger/Acquisitions/Buyout Guide, Third Edition Reed−Lajoux and others . . . This book wasRead MorePrinciples of Microeconomics Fifth Canadian Edition20085 Words   |  81 PagesSUPPLY AND DEMAND II: MARKETS AND WELFARE Chapter 7 Chapter 8 Chapter 9 Consumers, Producers, and the Efficiency of Markets Application: The Costs of Taxation Application: International Trade Why is the equilibrium of supply and demand desirable for society as a whole? The concepts of consumer and producer and surplus explain the efficiency of markets, the costs of taxation, and the benefits of international trade. PART FOUR: THE ECONOMICS OF THE PUBLIC SECTOR Chapter 10 Chapter 11 Chapter 12 Externalities

In Death of a Salesman as well as in American Beauty, the...

In Death of a Salesman as well as in American Beauty, the main conflicts revolve around a great basic problem, which is the appearance as a way of life and expression to the outside. Following this, they will all problems relating to the relationships between the characters, and the lack of communication in the families. It could also be seen in both works that the characters go through great efforts pretending to be happy with themselves. Willy Loman which may sound Low Man- man, writers often select the names for a reason, has two personalities one strong and one weak dreamer. The dreamer is optimistic, enterprising, including content and happy and the other is inconsistent, insecure, hypocritical, and unconscious. Both appear†¦show more content†¦Throughout the play, Biff undergoes a process in which different phases appears: The first is young he is intelligent, bold, and aggressive, likes sports and idolizes his father. Sees in him a successful professional, a person who can speak. He has great admiration for his father but greater the fall when he discovers his father infidelity when he goes to Boston. The second is that which is seen in almost all the work, is that of a failed Biff. The above is the dreamer Biff, as Willy a dreamer, hopeful. But in this phase he is representing the failure of Willy. The third is the Biff redeemed because he realizes who he is and there is a change. This happens wh en going to see Mr. Oliver, and he realizes that he has always lived in some kind of a dream. Happy Loman is like Willy, a dreamer, with wrong ideas, admires his brother. Idealistic, contradictory, liar, says one thing and then change it. He is irresponsible and does not want to face reality. He tries to express his personality through sex because he is no good for business; therefore competes sexually. Linda is the strongest character of all, is having to endure and do not see weaknesses. Bring the house, is a sympathetic character, comprising Willy, is a faithful wife, loyal, good mother ... Suffered, sometimes a little silly because he realizes that Willy is cheating with money and still follows the lead but it is more realistic. Her only contradiction is that she encourages Willy toShow MoreRelatedDeath of a Salesman: An Ending More Familiar Than Strange Essays1643 Words   |  7 PagesArthur Miller (1915-2005) born in Manhattan, but lived in Brooklyn when he was a teenager. He lived with his father during, the depression. This play â€Å" Death of a salesmanâ₠¬  makes me think that growing up in such an eventful time has a lot to do with how the elements of his drama revolves around life. His drama portrays the gloom and the sadness with some happy moments. Life brings out the elements, where the author stages the event and the characters play them out. The drama ofRead MoreThe Sonnet Form: William Shakespeare6305 Words   |  26 Pageshistory of English poetry. Two kinds of sonnets have been most common in English poetry, and they take their names from the greatest poets to utilize them: the Petrarchan sonnet and the Shakespearean sonnet. The Petrarchan sonnet is divided into two main parts, called the octave and the sestet. The octave is eight lines long, and typically follows a rhyme scheme of ABBAABBA, or ABBACDDC. The sestet occupies the remaining six lines of the poem, and typically follows a rhyme scheme of CDCDCD, or CDECDERead MoreLogical Reasoning189930 Words   |  760 Pageson the earlier 1993 edition, published by Wadsworth Publishing Company, which is owned by Cengage Learning: There is a great deal of coherence. The chapters build on one another. The organization is sound and the author does a superior job of presenting the structure of arguments. David M. Adams, California State Polytechnic University These examples work quite well. Their diversity, literacy, ethnic sensitivity, and relevancy should attract readers. Stanley Baronett. Jr., UniversityRead MoreMarketing Management130471 Words   |  522 Pagess Of Marketing) 3.5. Corporate Social Responsibility (CSR) and Ethics in Marketing 4. Have you understood type questions 5. Summary 6. Exercises 7. References 1. INTRODUCTION: The apex body in United States of America for the Marketing functions, American Marketing Association (AMA) defines marketing as â€Å"Marketing consists of those activities involved in the flow of goods and services from the point of production to the point of consumption. The AMA has since amended its definition to read as: â€Å"MarketingRead MoreProject Managment Case Studies214937 Words   |  860 PagesShephard Accountants, Inc. 212 Fargo Foods 216 Government Project Management 220 Falls Engineering 222 White Manufacturing 227 Martig Construction Company 229 Mohawk National Bank 231 5 NEGOTIATING FOR RESOURCES 235 Ducor Chemical 237 American Electronics International The Carlson Project 245 241 Contents vii 247 6 PROJECT ESTIMATING Capital Industries 249 Polyproducts Incorporated 251 Small Project Cost Estimating at Percy Company Cory Electric 259 Camden ConstructionRead MoreStrategic Marketing Management337596 Words   |  1351 Pagescompete Identifying competitors’ objectives Identifying competitors’ likely response profiles Competitor analysis and the development of strategy The competitive intelligence system The development of a competitive stance: the potential for ethical conflict Summary CONTENTS vii Stage Two: Where do we want to be? Strategic direction and strategic formulation 7 Missions and objectives 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7.8 Learning objectives Introduction The purpose of planning Establishing the corporate

Vacant Chapter 10 Decision Free Essays

When I finally look at the clock, I notice it’s been seven hours since I ran out on Emily and my feelings. As I look out in front of me, the gray asphalt blurring with yellow and white lines, I make the decision to keep going. I don’t want to be the one to ruin her. We will write a custom essay sample on Vacant Chapter 10 Decision or any similar topic only for you Order Now No matter how far I drive, I come to the same conclusion over and over again. I must have given Emily some sign of my feelings for her. It was never my intention. I’m a stock boy at a grocery store. She needs someone to take care of her†¦buy her all the things she’s never had. She doesn’t need an orphaned schmuck with less money than common sense. Usually, forty-eight hours doesn’t seem like a whole lot. However, it’s the longest I’ve been away from Emily in the time I’ve known her. It’s hard for me to believe I’ve only known her such a short time because she’s my whole life. How can your whole life be consumed by one person you haven’t known your entire life? Since I don’t know the answer to that, I keep driving. It’s Friday the 13th. I hadn’t actually realized it until I stopped for gas, and the lady in front of me was writing a check. She asked what the date was. The attendant answered her in a gleeful, yet macabre tone. Can one celebrate Friday the 13th? If today is the thirteenth though, that means I’ve been sleeping in my car for six days. Six days without her beautiful eyes. Six days without hearing the slight lilt in her voice. Six days since she told me she loved me, and I left her – like a thief in the night. Six days of thinking about kissing, touching and holding Emily. It’s the only thing I’ve thought about. Suddenly, it hits me: I know exactly what the raccoon from yesterday felt like as the wheels of the truck ahead of me rolled over him crushing him from the outside in. How to cite Vacant Chapter 10 Decision, Essay examples

Examining Persistent High Turnover Due To Low Wages †Free Samples

Question: Discuss about the Hospitality Industry Of New Zealand Examining Persistent High Turnover Due To Low Wages. Answer: Introduction The hospitality industryrefers to a broad group of businesses that provide services to customers in the field of providing services in hotels, restaurants and lodges. The primary areas of this service sector based industry are accommodation, food and beverage and travel and tourism. The Tourism, Hospitality and Recreation industry of New Zealand provides is a big avenue for employment generation giving opportunities to the young generation especially including part-time jobs (Cropp, 2016). Most of the employed youth in the industry are young students working part time and studying for higher qualifications. Employee turnover in an industry refers to the given number of people in the workforce which the industry needs to replace within a fixed period of time. This aspect is of vital importance to the functioning of an organization as it affects the productivity and more so when it is service based (Mok, Sparks Kadampully, 2013). Aim of the research The aims of this research are: To understand the hospitality industry of New Zealand To find out the rate of employee turnover in New Zealand To find out the difference in the rate of turnover in comparison to a global figure. To find out that factors or the causes behind the employee turnover in this sector To understand and find out the relation between the turnover rate and the wage of the employees To understand the effects of low wages on the employees To find out how this relation affects the productivity of the hospitality industry in New Zealand. Purpose of the research The purpose of this research is to understand the scenario of employment in the hospitality industry in New Zealand. Employee turnover has been the center of research of various researchers in the recent times highlighting many aspects of the hospitality industry (Hall Rusher, 2013). In New Zealand, this sector is the highest revenue earner garnering to employment needs of its young workforce. But in the past few years the hospitality industry has faced many ups and downs leading to a volatile job market (Poulston, Jenkins, 2016). The low rate of wages earned in this service industry that involves strong commitment and dedication in providing optimum customer satisfaction has been identified as a primary reason by many international studies (Hatch, 2016). It is therefore, very important to study what are the factors that have led to a low wage system in the industry leaving the workforce de motivated to leave the job and also find out ways and means to solve this problem (Mohsin, L engler Aguzzoli, 2015). Research questions The research questions that need to be answered in the course of study are: What is the hospitality industry of New Zealand? What is the rate of employee turnover in hospitality industry of New Zealand? What is the rate of employee turnover in hospitality industry in a global scale? What are the factors or causes behind the employee turnover rate in hospitality industry of New Zealand? What is the relation between the employee turnover rate and wages? What are the effects of low wages on employee? What are the effects of the employee turnover due to low wages in the productivity of the hospitality industry of New Zealand Guiding principle The theory of causality or cause and effect relationship is the guiding force shaping the research question of the study undertaken which has also been the basis of scientific enquiry since ancient times. This theory basically explains the universal phenomenon of a cause leading to an effect. In the context of the study undertaken this forms the construct that low wages have led to the high rate of employee turnover in the hospitality industry of New Zealand. This will help finding out the answers to the research questions by significantly exploring the distinct role played by wages or remuneration existing and how it effects the employees duration of employment in that industry. Studies have showed that wages or earnings are the sole purpose of employees to continue their association in any organization (Pascoe, 2017). The motivation to work is dependent on the salaries they receive in turn for the efforts they put in to deliver as employees. If the salaries they receive are at par with the services they deliver as employees they are more motivated to stay for longer durations in that particular job and similarly are de motivated if the wages are low (Brien, Thomas Brown, 2017). This theory will therefore helpful in the course of study. References Brien, A., Thomas, N. J., Brown, E. A. (2017). How hotel employee job-identity impacts the hotel industry: The uncomfortable truth.Journal of Hospitality and Tourism Management,31, 235-243. Cropp, A. (2016).Hotel staff shortages spell trouble for tourism.Stuff. Retrieved 21 July 2017, from https://www.stuff.co.nz/business/75646138/hotel-staff-shortages-spell-trouble-for-tourism. Hall, C. M., Rusher, K. (2013). Risky lifestyles? Entrepreneurial characteristics of the New Zealand bed and breakfast sector.Small in Firms Tourism, Michael, HC and K. Rusher (Eds.). Elsevier Publishing Company, Amsterdam, Netherlands, 83-98. Hatch, P. (2016).Hospitality hit hard by mining downturn.The Sydney Morning Herald. Retrieved 22 July 2017, from https://www.smh.com.au/business/retail/hospitality-hit-hard-by-mining-downturn-abs-figures-show-20160404-gnxn3q.html Mohsin, A., Lengler, J., Aguzzoli, R. (2015). Staff turnover in hotels: Exploring the quadratic and linear relationships. Tourism Management,51, 35-48. Mok, C., Sparks, B., Kadampully, J. (2013).Service quality management in hospitality, tourism, and leisure. Routledge. Pascoe, M. (2017).Why penalty rates for shift workers should be sharply higher.The Sydney Morning Herald. Retrieved 22 July 2017, from https://www.smh.com.au/business/the-economy/why-penalty-rates-for-shift-workers-should-be-sharply-higher-20170223-guk5vo.html Poulston, J., Jenkins, A. (2016). Barriers to the employment of older hotel workers in New Zealand.Journal of Human Resources in Hospitality Tourism,15(1), 45-68. Shen, Y., Morrison, A. M., Wu, B., Park, J., Li, C., Li, M. (2014). Where in the world? A geographic analysis of a decade of research in tourism, hospitality, and leisure journals.Journal of Hospitality Tourism Research.